The best time to boost your salary is when you take a new job in the red-hot jobs market
Workers’ pay packets are rising at record levels, giving Chancellor Jeremy Hunt a headache, but providing a boon to employees battling to keep up with the cost of living.
Private sector pay grew by 7.7pc, its fastest pace on record outside the pandemic, while average regular pay in the public sector hit 5.8pc in the three months to May, according to the Office for National Statistics.
This is bad news for the Government which is concerned that pay rise are fuelling inflation. But for workers, the “tight” jobs market represents an opportunity.
However, asking for a pay rise can be an awkward conversation – and for many the endeavour ends in failure. But amid a war for talent that has seen companies bending over backwards to draw in new hires, the best time to negotiate a pay rise is before you even start.